Nigeria's Dangote Refinery mulls dual listing in Lagos, London

Nigeria's Dangote refinery is considering a dual listing on both the London and Nigerian stock exchanges, according to senior executive Devakumar Edwin. This move is prompted by the belief that the Nigerian Exchange alone may not have the capacity to exclusively accommodate the refinery.

Chairman Aliko Dangote has hinted at a potential listing in Nigeria by the end of the year. As Africa's wealthiest individual, Dangote also oversees interests in Dangote Cement, Dangote Flour Mills, and Dangote Sugar, all of which are listed on the Nigerian stock exchange.

The refinery recently finalized a deal with oil major TotalEnergies for crude oil supply, a significant development considering the facility's prior reliance on oil imports from the United States, despite being situated in Africa's largest oil producer.